BNDES to provide approximately USD $120 million in project
financing to support sugar-to-oil production facility in Brazil

January 16, 2013 09:53 PM Eastern Time

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Solazyme, Inc. (NASDAQ: SZYM) (“Solazyme”), a renewable oil and
bioproducts company, announced today that Solazyme Bunge Renewable Oils,
its joint venture with Bunge Global Innovation LLC, a wholly-owned
subsidiary of Bunge Limited (NYSE: BG), has received approval for
project financing in the form of a loan from the Brazilian Development
Bank (BNDES) of R$245,699,000 (or approximately USD$120 million based on
the current exchange rate). The BNDES funding will support the joint
venture’s first commercial-scale renewable oil production facility in
Brazil, which is being constructed adjacent to Bunge’s Moema sugarcane
mill in São Paulo state. The 8-year loan will have an average interest
rate of approximately 4% per annum.

“Solazyme Bunge Renewable Oils is committed to commercializing
innovative tailored oil technology in Brazil. This financing from BNDES
highlights the significant value that the joint venture can bring to the
Brazilian economy.”

The project was selected by the PAISS program, a BNDES/FINEP joint plan
for stimulating industrial technological innovation in the sugar-based
energy and chemical sectors. The funding is mostly provided through the
BNDES PSI program (BNDES Investment Support Program) created for
stimulating the production, acquisition and export of capital goods and
technological innovation. Solazyme Bunge Renewable Oils broke ground in
June 2012 and is scheduled to be operational in the fourth quarter of
2013. It will service the renewable chemical and fuel industries within
the Brazilian marketplace and will initially target 100,000 metric tons
per year of renewable oil production. In November 2012, Solazyme and
Bunge announced in a framework agreement that they intend to expand
production capacity from 100,000 metric tons to 300,000 metric tons
globally by 2016, and that the portfolio of oils will broaden to include
a range of healthy and nutritious edible food oils for sale in Brazil.

About Solazyme, Inc.

Solazyme, Inc. (NASDAQ: SZYM) is a renewable oil and bioproducts company
that transforms a range of low-cost plant-based sugars into high-value
oils. Headquartered in South San Francisco, Solazyme’s renewable
products can replace or enhance oils derived from the world’s three
existing sources – petroleum, plants and animal fats. Initially,
Solazyme is focused on commercializing its products into three target
markets: (1) fuels and chemicals, (2) nutrition and (3) skin and
personal care.

Solazyme®, the Solazyme logo and other trademarks or service names are
trademarks of Solazyme, Inc.

About Bunge Global Innovation LLC

Bunge Global Innovation is an interdisciplinary team applying the latest
thinking and technologies to drive innovation across all Bunge business
segments. Its mission is to scout, develop, buy, sell or license
technologies that will improve Bunge’s sustainability, profitability and
competitive advantage.

About Bunge Limited

Bunge Limited (www.bunge.com,
NYSE: BG) is a leading global agribusiness and food company operating in
over 40 countries with approximately 35,000 employees. Bunge buys,
sells, stores and transports oilseeds and grains to serve customers
worldwide; processes oilseeds to make protein meal for animal feed and
edible oil products for commercial customers and consumers; produces
sugar and ethanol from sugarcane; mills wheat, corn and rice to make
ingredients used by food companies; and sells fertilizer in South
America. Founded in 1818, the company is headquartered in White Plains,
New York.

Forward Looking Statements

This press release contains certain forward-looking statements about
Solazyme, including statements that involve risks and uncertainties
concerning: its ability to finalize the BNDES loan; the nature of the
final terms of that loan; the ability of the Solazyme Bunge joint
venture to draw-down all or any funds from that loan; the ability of the
Moema plant to produce tailored oils; the character of the oils produced
at that plant; the value of such oils; the value that Solazyme’s
technology can bring to the Brazilian economy; the timing of the
commencement of operations at the Moema plant; the eventual capacity of
such plant; the oils that will be produced at the plant and the
industries and jurisdictions it will supply; eventual manufacturing
capacity expansion by Solazyme and Bunge; the timing of any such
expansion; and Solazyme's ability to maintain its relationships with its
partners. When used in this press release, the words "will", "expects",
"intends" and other similar expressions and any other statements that
are not historical facts are intended to identify those assertions as
forward-looking statements. Any such statement may be influenced by a
variety of factors, many of which are beyond the control of Solazyme,
that could cause actual outcomes and results to be materially different
from those projected, described, expressed or implied in this press
release due to a number of risks and uncertainties. Potential risks and
uncertainties include, among others: Solazyme's limited operating
history; its limited history in commercializing products; implementation
risk in deploying new technologies; its limited experience in
constructing and operating commercial manufacturing facilities; delays
or inability to construct or start-up production facilities, including
those associated with delay or inability to acquire the facility site;
its access to adequate supply of feedstock on favorable terms; its
ability to manage operational costs at production facilities; its
ability to enter into and maintain strategic collaborations; its ability
to obtain requisite regulatory approvals; and its ability to access, on
favorable terms, the required financing. Accordingly, no assurances can
be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what impact
they will have on the results of operations or financial condition of
Solazyme.

In addition, please refer to the documents that Solazyme, Inc. files
with the Securities and Exchange Commission, including its Quarterly
Reports on Form 10-Q for a discussion of these and other risks. You are
cautioned not to place undue reliance on forward-looking statements,
which speak only as of the date of this press release. Solazyme is not
under any duty to update any of the information in this press release.